LONDON — the British pound has climbed to its highest level against the dollar since Britain voted to leave the European Union almost two years ago.
The pound is up around 0.25% against the dollar to trade at $1.4372 in early European trading on Tuesday — just above its previous post-referendum high set in January. The pound has now made gains against the dollar for seven consecutive trading days.
The pound is also going strongly against the euro, reaching €1.1582, its highest level since May 2017.
The pound’s value plummeted against both the dollar and euro after Britain voted to leave the European Union, experiencing the biggest single-day drop of any major currency in history on the day after the vote. Sterling fell as low as $1.20 at the beginning of 2017, having traded at close to $1.50 prior to the vote.
However, since the middle of last year, the pound has ripped higher, with the currency trading more than 15% above levels seen this time last year.